Norway raises spending from oil fund to $44 billion in 2020
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OSLO (Reuters) - Norway's government has further raised its projected 2020 spending from the country's sovereign wealth fund to 424.6 billion Norwegian crowns (£35.50 billion) from 419.6 billion seen on May 12, it said on Friday. The so-called structural non-oil deficit corresponds to 4.2% of the fund's Jan. 1 value, making use of a provision in Norway's fiscal framework that allows withdrawals to exceed a 3% cap to counteract economic setbacks.Before the coronavirus outbreak the government had..